Greece has to take specific steps to unleash the potential of its business economy because the reforms implemented during its three adjustment programmes have not had the desired impact, a study carried out by the German Institute for Economic Research (DIW) argues.
Greece’s business framework remains complex and lengthy, which could act as a deterrent to foreign investors, according to data presented as a recent business forum.
It is 5:59am on a Sunday morning. The host of the morning talk show, a man of near-pensionable age – a look he has affected for well over a decade – adopts an alarmed look. The caption screams “NEW PENSIONS MASSACRE”. Projected on the backdrop, a dense table of numbers several columns wide defies legibility, and several talking heads are lined up in a panel to argue vociferously and incoherently over how badly pensioners can expect to suffer from the latest spending cuts.
Employees at Greece's main social security fund have raised the alarm regarding the extent to which pensions will be cut next year, when Greece is expected to trim its spending on retirees by 1 percent of GDP, or 1.8 billion euros.
A leaked report by a consultancy firm on the Public Power Corporation (PPC) sent the majority state-owned entity’s stock price falling earlier this week after it raised concerns about PPC’s viability.
A study by the Greek Tourism Confederation (INSETE) has indicated that tourism was worth over one quarter of Greece’s GDP in 2017.
As Greece approaches the end of its bailout programme, claims are emerging that the SYRIZA-ANEL government has been on a public sector hiring spree at the expense of already over-burdened taxpayers, while seeking to entrench itself in the state through political appointments.
Increases in tax rates across 2017 by the application of new tax scales and methods of calculation for tax payable by the self-employed did not lead to higher revenues for the government in 2017, according to the latest data from ELSTAT.
The hotly anticipated venture capital fund, EquiFund, which aims to foster business growth in Greece was officially launched by prime minister Alexis Tsipras on Monday.
In recent weeks the Greek government has come under sustained criticism from the main opposition party, New Democracy, for its management of the public sector.